Published on February 10, 2014

Demand from the industries like plywood and laminates is gradually improving and that has resulted in good demand for Adhesive industry. But still industry players said that there has been a money crunch situation in the market.

Industry sources said that demand was not good for last some weeks but now it has improved and will increase in future. To cater the growth in demand for the country with a huge population industry is planning to expand its capacity. Market expects more quality investments this fiscal. Market players and industry analysts said that industry has to bring some innovative ideas to achieve better productivity and reduce wastages.

As per a research report, the trend will continue in 2014 as it was in previous year. Industry players have commented for the year 2013 that the year 2013 was not so good for this industry and with increased prices of raw material, the profitability of the industry players was affected. Also demand from the laminate and plywood sector was low and that had affected the demand for this sector as well.

Further, they had added that there is still room to make some improvement in the industry with skilled labour forced and technology uses. Automobile, packaging and construction are the key market for this industry. Along with growth in this market, adhesive market is growing at stable rate throughout the year. Major players in this industry are focusing on development of bio-based adhesive, in order to decrease use of synthetic adhesives.